2 Bed Flat, Single Let, Ipswich, IP3 0FG, £128,000

Siloam Place, Ipswich, Suffolk, IP3 0FG - 2 views - a year ago

Leasehold
BTL
ROI: 7%
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£107.5K - £322.5K
Sold Prices/m²£1.5K/m² - £4.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.9K/m²

Value Estimate

£145,447
BMV14%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£32,000

Stamp Duty & Legal Fees

£5,040

Total Cash In

£37,040

 

 

Cash Out

 

Rent Range

£750 - £1,325

Rent Estimate

£800

Running Costs/mo

£580

Cashflow/mo

£220

Cashflow/yr

£2,640

ROI

7%

Gross Yield

8%

Local Sold Prices

50 sold prices from £107.5K to £322.5K, average is £133.5K. £1.5K/m² to £4.3K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£147K10/220.02 mi106, Siloam Place, Ipswich, Suffolk IP3 0FF2
£136K04/230.02 mi92, Siloam Place, Ipswich, Suffolk IP3 0FF2
£114K01/230.05 mi59, Siloam Place, Ipswich, Suffolk IP3 0FD2
£125K06/210.06 mi6, Isham Place, Ipswich, Suffolk IP3 0DZ2
£130K10/220.07 mi36, Hope Court, Ipswich, Suffolk IP3 0DX2
£130K02/230.08 mi21, Isham Place, Ipswich, Suffolk IP3 0DY2
£110K06/210.08 mi1, Isham Place, Ipswich, Suffolk IP3 0DY2
£134K02/230.08 mi5, Isham Place, Ipswich, Suffolk IP3 0DY2
£138.5K10/220.08 mi19, Hope Court, Ipswich, Suffolk IP3 0DW2
£140K12/220.09 mi32, Siloam Place, Ipswich, Suffolk IP3 0FB2
£119K10/200.09 mi22, Siloam Place, Ipswich, Suffolk IP3 0FB2
£125.5K05/210.09 mi42, Siloam Place, Ipswich, Suffolk IP3 0FB2
£135K04/230.09 mi58, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£118K06/210.09 mi32, Fore Hamlet, Ipswich, Suffolk IP3 8BD2
£140K11/210.1 mi239, Duke Street, Ipswich, Suffolk IP3 0BX2
£120K04/210.11 mi56, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.11 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£130K11/200.11 mi48, Pownall Road, Ipswich, Suffolk IP3 0DR2
£128K07/210.11 mi64, Pownall Road, Ipswich, Suffolk IP3 0DR2
£135K05/230.11 mi46, Pownall Road, Ipswich, Suffolk IP3 0DR2
£133K09/220.12 mi93, Pownall Road, Ipswich, Suffolk IP3 0DA2
£151.5K12/200.14 mi53, Pownall Road, Ipswich, Suffolk IP3 0DN2
£322.5K06/230.3 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£315K07/230.3 mi39, Neptune Square, Ipswich, Suffolk IP4 1QH2
£290K02/210.3 mi51, Neptune Square, Ipswich, Suffolk IP4 1QH2
£167K01/210.3 mi10, Neptune Square, Ipswich, Suffolk IP4 1QH2
£255K06/210.3 mi48, Neptune Square, Ipswich, Suffolk IP4 1QH2
£142K02/230.41 mi50, Finbars Walk, Ipswich, Suffolk IP4 1HY2
£320K04/210.44 mi155, Stoke Quay, Ipswich, Suffolk IP2 8SN2
£180K05/210.51 mi12, Fuchsia Lane, Ipswich, Suffolk IP4 1QB2
£155K07/230.53 mi183d, Foxhall Road, Ipswich, Suffolk IP3 8LB2
£115K08/210.57 mi18, Silk Street, Ipswich, Suffolk IP4 2PA2
£134K10/220.59 mi16, Silk Street, Ipswich, Suffolk IP4 2PA2
£108K11/210.59 mi88, Vernon Street, Ipswich, Suffolk IP2 8JB2
£137.5K04/230.65 mi31, Seymour Road, Ipswich, Suffolk IP2 8EN2
£135K11/210.68 mi6, Bruff Road, Ipswich, Suffolk IP2 8GY2
£110K10/210.7 mi25, Sinclair Drive, Ipswich, Suffolk IP2 8HZ2
£125K04/230.7 mi24, Postmill Close, Ipswich, Suffolk IP4 2RF2
£120K07/210.7 mi42, Postmill Close, Ipswich, Suffolk IP4 2RF2
£107.5K06/210.7 mi30, Postmill Close, Ipswich, Suffolk IP4 2RF2
£135K03/230.72 mi125, Cemetery Road, Ipswich, Suffolk IP4 2HZ2
£120K12/220.72 mi147, Oakstead Close, Ipswich, Suffolk IP4 4HW2
£146.5K01/230.73 mi7, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£134.5K07/210.73 mi1, Haslemere Drive, Ipswich, Suffolk IP4 2PP2
£135K05/230.75 mi18, Provan Court, Ipswich, Suffolk IP3 8GG2
£121K02/210.75 mi64, Provan Court, Ipswich, Suffolk IP3 8GG2
£130K10/210.75 mi66, Provan Court, Ipswich, Suffolk IP3 8GG2
£130K06/210.75 mi50, Provan Court, Ipswich, Suffolk IP3 8GG2
£125K04/210.75 mi90, Provan Court, Ipswich, Suffolk IP3 8GG2
£110K12/200.77 mi88, Bruff Road, Ipswich, Suffolk IP2 8GX2

Local Rents

52 rents from £750/mo to £1.3K/mo, average is £975/mo.

RentDateDistanceAddressBeds 
£95004/240.04 miSiloam Place, Modus Development, Ipswich, Suffolk, IP32
£87501/240.06 miTye Road, Ipswich, Suffolk, IP32
£87506/240.07 miHope Court, Modus2
£88505/240.08 miIsham Place, Ipswich2
£85005/240.08 miIsham Place, Ipswich, Suffolk, IP32
£95012/240.11 mi-2
£89512/240.12 mi-2
£87505/240.12 miMitre Way, Ipswich2
£85001/240.13 miPownall Road, Ipswich, Suffolk, IP32
£90003/250.13 mi-2
£80012/240.17 miFore Hamlet, Ipswich2
£1,20012/240.18 mi-2
£1,20012/240.18 mi-2
£1,25012/240.18 mi-2
£95001/240.19 miAnchor Street, Ipswich2
£85012/240.2 mi-2
£82501/240.2 miFore Hamlet, Ipswich2
£1,10005/240.2 miAnchor Street, Ipswich2
£99504/240.2 miNeptune Marina, Ipswich, IP32
£1,05005/240.2 miCoprolite Street, Ipswich2
£1,20010/240.2 mi-2
£1,20010/240.2 mi-2
£1,10012/240.2 mi-2
£1,10004/240.21 miNeptune Marina, 1 Coprolite Street, Ipswich, Suffolk, IP32
£1,15001/240.21 miAnchor Street, Ipswich, Suffolk, IP32
£99504/240.21 mi1 Anchor Street, Orwell Quay, Ipswich, IP32
£97505/240.21 miCoprolite Street, Ipswich2
£1,10005/240.23 miPatteson Road, Ipswich2
£1,10005/240.23 miPatteson Road, IPSWICH2
£1,10012/240.3 mi-2
£1,15001/240.3 miNeptune Square, Ipswich, IP42
£1,20007/240.3 miNeptune Square, Ipswich, IP42
£95008/240.3 miNeptune Square, Ipswich, IP42
£1,20001/240.3 miNeptune Square, Ipswich, Suffolk, IP42
£1,32504/240.3 miNeptune Square, Ipswich2
£1,20007/240.3 miNeptune Square, Ipswich, IP42
£1,25008/240.3 miNeptune Square, Ipswich, Suffolk, IP42
£1,25008/240.3 miNeptune Square, Ipswich, Suffolk, IP42
£99504/240.31 miFoxhall Road, Ipswich, Suffolk2
£97504/240.31 miFoxhall Road, IP32
£97505/240.31 miFoxhall Road, Ipswich, Suffolk2
£80001/240.34 miFore Street, Ipswich, Suffolk, IP42
£97004/250.35 mi-2
£97503/250.35 mi-2
£89508/240.38 miRosebery Road, Ipswich, Suffolk, UK, IP42
£80005/240.39 miGrimwade Street, Ipswich2
£85009/240.4 miOxford Road, IPSWICH2
£92508/240.4 miWellesley Road, Ipswich, IP42
£1,00004/240.4 miRope Walk, Ipswich2
£1,15002/250.4 mi-2
£75005/240.41 miStar Lane, Ipswich, Suffolk, IP42
£92506/240.41 miStar Lane, Ipswich, Suffolk, IP42

Local Area Statistics

Population in IP3

34,308

Population in Ipswich

219,393

Town centre distance

0.47 miles away

Nearest school

0.40 miles away

Nearest train station

0.64 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £128,000

March 12, 2024

Floor Plans

Description

    • TWO BEDROOM / 2 BATHROOMS * +
    • CLOSE TO WATERFRONT * +
    • TWO PARKING SPACES * +

Home from Home are delighted to offer this spacious 2 bedroom, 2 bathroom ground floor apartment on the popular Modus development close to the waterfront. Two off road residents only parking spaces are available with this property. The property is very well located for easy walking distance to the town centre as well as the beautiful Holywells Park which has excellent amenities. A range of local shopping facilities and restaurants / take-away outlets are also readily available.

Local primary schools are Cliff Lane or St Helens and the local high school is Ipswich Academy which is rated 'Good' with Ofsted.

The apartment is currently tenanted so would be suitable for an investor. Fixed term agreement ends in August so vacant possession available from that date.

The accommodation comprises:

Hallway: 21'9" x 4'6" (6.64m x 1.37m)
Laminate flooring. Door into airing cupboard housing the economy seven hot water cylinder. Ample storage space.

Lounge/Diner/Kitchen: 18'3" x 15'7" (5.55m x 4.76m)
Laminate flooring. Windows x 2 to front of property. Storage heater. Kitchen has base and eye level units. Built in oven and hob. Plumbing for washing machine.

Bedroom 1: 15'9" x 10'2" (4.80m x 3.09m)
Carpeted. Window to side of property. Storage heater.
Door through to en-suite.

En-suite: 7'11 x 3'11" (2.41m x 1.20m)
Vinyl flooring. Shower cubicle with electric shower. White sanitary items including wash basin and low level flush w/c.

Bedroom 2: 15'3" x 8'2" (4.65m x 2.5m)
Carpeted. Window to side of property. Electric panel heater.

Bathroom: 15'3" x 8'2" (4.65m x 2.50m)
Vinyl flooring. Bath with shower attachment. Low level flush w/c. Wash basin. Walls half tiled.

110 years remaining on the lease (as of 2023)
* Service charge is £1644.96 including one off charge this financial year only for essential planned maintenance
* Water - £300 Demanded yearly with the option of paying over 10 months.
* Insurance £308 p.a.
* Ground rent £250 approx per annum
* Council tax Band B

Access via stair case only. The primary source of electricity supply is from the main electrics. The primary source of water supply is supplied by bulk meter. Primary arrangement of sewerage is to the mains. Good mobile signal.

!! CALL ONE OF OUR FRIENDLY ADVISORS AT HOME FROM HOME TODAY ON TO ARRANGE A VIEWING !!

Agent Details

Home From Home, Ipswich

01473 943682

Next Steps?

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